The breaker is an important accessory product of the excavator, and the breaker market is closely related to the entire construction machinery industry. Qinglan believes that the construction machinery industry has accelerated in the first half of 2018. The recovery of the construction machinery industry comes from the support of infrastructure and real estate demand. On the other hand, it comes from the bottoming of the production capacity of the construction machinery industry. With the release of production capacity, construction machinery The profitability of industry companies will gradually improve. We believe that the recovery of the construction machinery industry will be transmitted to the breaker market through excavators. The hammer market is expected to usher in the second half of 2018.
The import substitution effect of China's breaker market has gradually increased, and the market share of domestic breaker brands has gradually expanded. In 2013, domestic brands accounted for 33% of the domestic market, up 5pct from 2010.
At present, the rate of hammering in China is only 18.31%, which is still much room for improvement compared with developed countries. At present, the hydraulic hammer excavator rate in developed countries is generally above 35%, and the Japanese hammer ratio is 60%. In the Middle East and other Gobi regions, the Korean excavator has a hammer ratio of 80%.
China's excavator stock market is huge, and the demand for broken hammers is strong. As of the end of 2015, China's excavator market has a total of 1.17 million units, and the life of the breakers is generally 3-5 years. The update frequency is relatively fast. The huge excavator stock market brings continuous growth opportunities to the breaker industry.
China's local breaker brands mainly include Eddie Precision, Jingtian Hydraulic, Dr. Li, Bosite, Beilite, etc. The industry as a whole is relatively scattered, but the concentration of leading enterprises in the industry continues to increase. In 2013, the CR4 of the breaker market increased from 19.65% to 23.45%, and the production capacity gradually shifted to several leading enterprises. China's broken hammer enterprises mainly rely on imported technology, supplemented by independent research and development. Leading enterprise Eddie Precision is one of the few companies with independent research and development technology.
The heavy-duty hydraulic breaker has a large impact force, which is more demanding on production technology and processing technology, and has higher technical barriers, so the added value of the product is higher. The excavator market is characterized by structural differentiation: the demand for small excavation to meet the municipal construction is strong, the sales volume is relatively stable, and the proportion of large-scale excavation for large-scale engineering activities such as infrastructure construction is rising, while the share of the excavation continues to shrink. From the adjustment of the excavator market structure, we can infer the sustainability of the growth of heavy hammer sales.
At present, there are few manufacturers capable of independently producing heavy-duty hammers in China, and the market competition is relatively low. Qingzhou Qingyi Machinery Co., Ltd., as a manufacturer of breakers, is mainly engaged in the research and development and production of excavator front-end accessories. As an excellent supplier of excavator front-end attachment products, Qinglan Machinery mainly includes: breakers, steel grabs, wood grabs, hydraulic shears, pile drivers, connectors, lotus grips, vibrating jaws, car scrapers, etc. Excavator front end device products.
